Prime Minister Narendra Modi on Saturday said he was aware of the hardship people were facing in India because of the demonetisation move, but emphasized that it was necessary in the larger interests of the nation.
Addressing the Indian diaspora in Japan, Modi said people back home were hailing his decision of rendering Rs 500 and Rs 1,000 notes invalid but some of them were being prodded to speak against the government because of politics.
'I know it is difficult. People are made to speak against Modi but I salute the people... some stood in the queues for five hours, six hours but endured the hardship. The same way as people in Japan endured in 2011,' he said, referring the earthquake-triggered tsunami five years ago that hit Japan.
He said the government had not taken the decision on demonetization in haste. 'We had given 50 days to people to show their unaccounted wealth' till September, before the government decided to render the large currency bills illegal tender.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
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